The economist's view of the world and the quest for well-being

"There is much talk these days of government programs that do not achieve their objectives. The economist, however, sees a bittersweet quality in even those programs that do achieve their objectives. The crowd at the groundbreaking for the new community recreation center finds it a happy occasion that will soon make available wholesome sports for the young and community-building opportunities for senior citizens. The economist broods: "Yes, but by spending the money here and not elsewhere, we give up the remedial reading program that might raise low-income students' test scores a full grade, and the new public park in the underserved north end of town. And what about the recreational opportunities that local families might enjoy if the tax dollars to pay for this center were left in their pockets?"